XML 36 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 158,266 $ 77,357
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 125,258 115,349
Gain on sale of operating properties, including land (85,192) (1,801)
Impairment associated with land holdings 0 1,152
Distributions of income from joint ventures 3,092 5,161
Equity in income of joint ventures [1] (2,913) (5,026)
Share-based compensation 8,432 7,867
Amortization of deferred financing costs 1,418 1,657
Net change in operating accounts and other (13,739) (7,718)
Net cash from operating activities 194,622 193,998
Cash flows from investing activities    
Development and capital improvements (237,921) (267,985)
Proceeds from sales of operating properties, including land 112,180 13,706
Distributions from investments in joint ventures 519 5,853
Other (3,967) (1,786)
Net cash from investing activities (129,189) (250,212)
Cash flows from financing activities    
Repayment of notes payable (251,432) (11,016)
Borrowings on unsecured line of credit and other short-term borrowings 186,000 1,060,000
Repayments on unsecured line of credit and other short-term borrowings (4,000) (880,000)
Distributions to common shareholders and non-controlling interests (124,623) (116,515)
Purchase of non-controlling interests (9,500) 0
Other 712 2,020
Net cash from financing activities (202,843) 54,489
Net decrease in cash and cash equivalents (137,410) (1,725)
Cash and cash equivalents, beginning of period 153,918 17,794
Cash and cash equivalents, end of period 16,508 16,069
Supplemental information    
Cash paid for interest, net of interest capitalized 49,715 40,697
Cash paid for income taxes 1,548 1,411
Supplemental schedule of noncash investing and financing activities    
Distributions declared but not paid 64,253 59,770
Value of shares issued under benefit plans, net of cancellations 18,552 19,633
Net change in redemption of non-qualified share awards (1,353) 14,161
Accrual associated with construction and capital expenditures $ 21,510 $ 25,172
[1] Equity in income excludes our ownership interest of fee income from various services provided by us to the funds.